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Sunday, November 13, 2011

Obamacare - people are losing their healthcare plans

President Obama promised over and over "if you like the healthcare plan you have, you will be able to keep it." But People are losing their employer-based healthcare plans. Already, by the thousand, in 2010 and 2011.

You promised, Mr. Obama. What happened? Obamacare passed and it is doing what it intended to do? Or is this unintended? In which case they didn't know what they were doing.

Now, Gallup reports that from the first quarter of 2010 (when Obama signed Obamacare into law) to the third quarter of this year, 2 percent of American adults lost their employer sponsored health insurance. In other words, about 4.5 million Americans lost their employer-sponsored insurance over a span of just 18 months.

Is it doing what it intended to do. Or is this an unforeseen accident?

This is not what the Congressional Budget Office (CBO) had predicted would happen. Rather, the CBO had predicted that Obamacare would increase the number of people with employer-sponsored insurance by now. It had predicted that, under Obamacare, 6 million more Americans would have employer-sponsored insurance in 2011 than in 2010 (see table 4, which shows the CBO’s projected increase of 3 million under (pre-Obamacare) current law and an additional 3 million under Obamacare). So the CBO’s rosy projections for Obamacare (and even these paint a frightening picture) are already proving false.